AI advertising platform Liftoff Mobile (LFTO.US) raised $399 million to return to IPO, aiming for a valuation of nearly $4 billion to debut on the Nasdaq.

Focused on AI-driven advertising for mobile apps, the artificial intelligence software company Liftoff Mobile announced the terms of its initial public offering (IPO) on the U.S. stock market with a size of $399 million. The software technology company provides AI-powered advertising delivery and monetization software platforms for mobile apps. The company plans to list on the NASDAQ exchange under the proposed ticker symbol "LFTO." Based in Redwood City, California, Liftoff Mobile plans to raise $399 million by issuing 19 million shares of common stock at a price range of $20 to $22 per share. At the midpoint of this proposed range, the company will have an estimated fully diluted market value of over $3.9 billion. Liftoff Mobile, formed in 2021 through a merger between Liftoff and Vungle, offers a unique AI platform that supports mobile app advertisers and publishers in efficient user acquisition and advertising monetization pathways, covering various sectors such as social media, finance, entertainment, and gaming. As of September 30, 2025, its software development kit has been integrated into over 140,000 large apps, connecting approximately 1.4 billion daily active users and serving over 1,000 global advertisers. The main revenue streams for Liftoff Mobile include mobile advertising transactions and performance advertising technology services. On one end, it helps advertisers find high-converting users and improve ad returns using AI models. On the other end, it helps app publishers sell ad space more efficiently and monetize it. Therefore, AI-driven advertising delivery and ad monetization are the core sources of revenue for Liftoff, rather than any ancillary businesses. Financial data in the IPO filing shows that the company had generated approximately $741 million in revenue in the 12 months ending on March 31, 2026, with its commercial value primarily derived from "AI large model Token pricing + mobile traffic scale + advertising conversion data loop": using algorithms to predict user value, automatic bidding, optimizing ad creatives and placement channels, and earning revenue from advertising technology platforms in vertical scenes such as mobile games, social media, finance, and entertainment. The company, founded in 2011, reached an overall revenue of $741 million in the 12 months ending on March 31, 2026, as mentioned above. Liftoff Mobile had originally planned to go public in January with a fundraising size of $711 million and a valuation of $5.5 billion, but the rare large-scale sell-off caused by the global software stock market crash in AI intelligence models triggered by Anthropic in February significantly delayed the IPO, ultimately briefly withdrawing the application. It was announced at the end of April that the company would resubmit the prospectus and set new terms for the offering. The IPO issuing team for the company is considered luxurious, with Goldman Sachs, J.P. Morgan, Morgan Stanley, Barclays, RBC Capital Markets, UBS Investment Bank, Wells Fargo Securities, William Blair, Cantor Fitzgerald, Deutsche Bank, PJT Partners, WR Securities, Nomura Securities, BTIG, Needham & Co., and Raymond James serving as joint book-running managers for the U.S. IPO listing and also as joint lead underwriters for this IPO, with pricing expected to start in the first week of June 2026.